The global cold chain logistics market size was US$ 231 billion in 2021. The global cold chain logistics market is forecast to grow to US$ 696.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Growing demand for cold chain logistics in order to store fresh agricultural products, manufactured food, and medical vaccines will drive the overall cold chain logistics market forward.

Cold chain logistics help in transporting perishable products and food items. It also assures the freshness and palatability of the product. In addition, the growing demand for novel drugs and fresh food will surge the growth of the market.

The benefits of cold chain logistics, such as the ability to optimize inventory accuracy, cost-effective operations, reduced cycle time, enhanced supply chain efficiency, and increased shelf life, will contribute to the growth of the market.

The growing number of food manufacturers, commissaries, cold storage warehouses will surge the growth of the market. In addition, the rising number of supermarkets, grocery stores, and convenience stores will also benefit the cold storage logistics market during the forecast period.

Growing urbanization and rising demand for frozen food will escalate the growth of the cold storage logistics market.

A rising number of investments will boost the growth of the market. For instance, in November 2020, NewCold funded $150 million in a new cold storage facility in Lebanon, Indiana.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic surged the demand for novel drugs and vaccines. As a result, the global cold storage logistics market witnessed significant growth opportunities. Favorable policies by government bodies to offer COVID-19 vaccine at a massive level have been beneficial for the global cold chain logistics market. The demand for effective transport for frozen food and other products surged abruptly. Thus, it has been beneficial for the global cold chain logistics market. On the contrary, the industry witnessed significant supply chain disruptions due to the lockdown regulations, which hampered market growth.

Regional Analysis

The Asia-Pacific cold chain logistics market is forecast to grow at the highest growth rate. It is due to the increasing demand for frozen food, processed food, and pharmaceuticals. In addition, Japan is forecast to hold the highest market share, owing to the growing healthcare and pharmaceutical hubs. The growth of the regional market is also attributed to the increasing demand for novel drugs and the growing disposable income of the population. In addition, the rising number of supermarkets and retail stores will also contribute to the industry growth.

Competitors in the Market

Americold Logistic LLC
Burris Logistics
Lineage Logistics Holding LLC
Kloosterboer
The Nichirei Corporation
NewCold
The United States Cold Storage, Inc.
Hanson Logistics
Seafrigo Group
Stockhabo
Other Prominent Players
Market Segmentation

The global cold chain logistics market segmentation focuses on Product, Application, and Region.

By Product Outlook

Mechanical & Cryogenic Refrigeration Systems
Reefers (Reefer Vans & Trucks)
Cold Chain Transport Monitoring Equipment
Packaging Material
By Application Outlook

Food & Beverages
Medical Goods
Temperature-sensitive Chemicals
Others
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America